Free Press Journal

Maharashtra state government eyes Rs 10 trillion from investor summit


PTI Photo by Subhav Shukla(PTI10_30_2014_000044B)

Mumbai: The Devendra Fadnavis government is looking to stitch up agreements entailing investments of over Rs 10 trillion from the investor summit next week, a top official has said. Virgin Atlantic Group founder and chairman Richard Branson will be among the host of business leaders who will be attending the three-day event that will be inaugurated by Prime Minister Modi next Sunday.

“We expect agreements of Rs 10 trillion investments to be signed at Magnetic Maharashtra across several sectors,” additional chief secretary, industries, Sunil Porwal, told PTI on Sunday.

The official said the government is expecting Rs 3.5 trillion investments into affordable housing, Rs 1.25 trillion into renewable energy projects, Rs 10,000 crore in agriculture and Rs 4,000 crore in tourism. The rest would be in other sectors like auto, cement, fertilisers and information technology sectors, he added.

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A bulk of these agreements will be with private and foreign investors, he said, adding that there will be a couple of investment announcements by state-run enterprises as well. The state has announced a slew of sector-specific policies in the run-up to the summit beginning next Sunday.

It has received confirmations from 100 business leaders, including global ones like Virgin Atlantic’s Branson, who will be attending the summit, Porwal said, adding that domestic industry leaders like Mukesh Ambani and Anand Mahindra will also be there.The state had aggressively marketed itself as an investment destination at the first ‘Make in India’ summit held two years ago in the financial capital and secured investment commitments.